The Charging Bull near Wall Road is pictured in New York.
Carlo Allegri | Reuters
Dow Jones Industrial Average drops 410 points
The Dow closed 410.32 factors lessen, or 1.84%, at 21,917.16. The S&P 500 slid 1.60% to 2,584.59. The Nasdaq Composite fell .95% to 7,700.10. The main averages gyrated between gains and losses in the course of the session as Wall Avenue wrapped up a volatile quarter.
Worst very first quarter at any time for Dow
The Dow ended the quarter down extra than 20%, marking its biggest initially-quarter decline on report. The S&P 500 and Nasdaq equally fell far more than 14% this quarter. To be absolutely sure, the significant averages regained some ground just after hitting a small on March 23. Nonetheless much more clarity is required on the virus’ economic impression as effectively as the outbreak alone before shares can make a meaningful rebound.
Financial institution shares slide, tech gains
Bank shares fell, pressuring the broader sector. JPMorgan Chase dropped 3.71% when Citigroup closed 4.45% lower. Bank of America shares slid 3.68%. Gains in tech stock these kinds of as Fb, Netflix and Alphabet partially offset the decrease in lender shares. Fb attained .51%, when Netflix innovative additional than 1.22% every single. Alphabet climbed 1.36%.
What occurs subsequent?
Weekly property finance loan applications, alongside with producing and non-public payrolls knowledge, are scheduled for release on Wednesday.
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